Markets.News
A recent report revealed that the unemployment rate in the country has reached 8.5%, representing an increase of 2.3% compared to the previous quarter. This surge in unemployment equates to approximately 1.5 million people who are currently out of work. The report also highlighted that the hardest-hit demographic are individuals between the ages of 18-25, with an unemployment rate of 15.2%. Furthermore, it was noted that the service industry has been severely impacted, with a 4% decrease in employment within this sector. These statistics underscore the significant economic challenges facing the country, particularly in light of the ongoing global pandemic.